The Chemistry Innovation Strategy has been launched to drive innovation in the chemical and chemistry using industries, targeting growth in the UK economy.
After being developed by the Chemistry Innovation Network, with support from the Centre for Process Innovation, the strategy was launched at the Innovation for Impact event in Birmingham.
It targets chemistry-reliant industries in the aerospace, automotive, energy, construction and food and drink sectors and aims to create secure supply chains to reduce reliance on imports.
In delivering the strategy, Chemistry Innovation will work with companies in the sectors to help them identify and understand opportunities, locate funding to overcome barriers and find collaboration partners.
Additionally, it will access the latest engineering and manufacturing equipment to trial new products and improve efficiency.
Steven Fletcher, director of strategy at Chemistry Innovation, believes the UK has world leading chemistry capabilities it can capitalise on.
“There are still huge opportunities for chemistry to help develop new materials and products, and to improve the sustainability of many of Britain’s strategically important industries.
“This strategy sets out to help companies overcome the barriers that are holding them back and make the UK more globally competitive,” he added.
The chemical and chemistry-using industries currently generate over £600bn of revenue and contribute £195bn Gross Value Added to the UK economy.
The Innovation Strategy will form part of the UK’s Chemistry Growth strategy which will be launched over the coming weeks as part of the Government’s plans to rebalance the economy towards manufacturing.
Graeme Armstrong, head of research, development & innovation at AkzoNobel, said: “Chemistry contributes a huge amount to our economy, environment and well being, but it is a complex, diverse industry.
“To achieve the even greater opportunities on the horizon we need to bring the different parties together, communicate the opportunities, and help them overcome the obstacles. This strategy provides an excellent approach to achieving that.”